TerraCycle acquires Lisle-based Air Cycle Corp.
TRENTON, N.J., (January 2018) - TerraCycle US Inc., a leader in the collection and repurposing of hard-to-recycle post-consumer waste, announced it has acquired Lisle, Ill.-based Air Cycle Corporation, a leader in universal waste recycling that provides solutions for mercury-containing fluorescent bulbs, battery, ballast and electronic waste disposal.
"This acquisition marks an important step in our growth and diversification strategies," said TerraCycle CEO Tom Szaky. "Adding Air Cycle to TerraCycle's core business means that we can now offer, for the first time, the collection and recycling of products mandated for disposal by federal regulations, in addition to the voluntary programs we've had for over 10 years."
Air Cycle and its two decades of experience in the industry will join the TerraCycle Regulated Waste business unit. It will operate as a wholly owned subsidiary of TerraCycle US Inc. In its new capacity the company will continue to offer lamp recycling products and services worldwide based on three recycling programs:
• Bulb Eater - Designed and manufactured for facilities that dispose of large quantities of lamps, the Bulb Eater was developed to crush spent fluorescent bulbs into small fragments and compress the waste into 55-gallon drums. Each Bulb Eater unit is built around a filtration system that ensures both OSHA and EPA compliance, as well as greatly reduces costs associated with the storage, handling and recycling of the lamps.
• EasyPak Recycling Program - The EasyPak recycling program is offered as an alternative for customers who generate smaller quantities of spent lamps, batteries, and/or ballasts. Available in a variety of sizes, the EasyPak boxes are shipped by customers, through prepaid UPS Ground transportation services, to recycling centers for processing.
• National Bulk Recycling - Designed to offer nationwide bulk pickup and recycling services for companies with large amounts of intact lamps, ballasts, batteries, electronic waste and the crushed lamps generated by the Bulb Eater. Once the waste has been recycled, a Certificate of Recycling, which confirms the proper handling of the waste, will be provided.
"Due to federal EPA regulations on fluorescent and mercury vapor lamps, nonresidential facilities are required by law to properly dispose of their lamps" said Bobby Farris, general manager of TerraCycle Regulated Waste. "This acquisition puts the company in a unique position to meet those regulated waste needs, as well as offer our clients a vast range of other voluntary and customized recycling services."
The timing of this announcement coincides with TerraCycle US Inc. being qualified by the U.S. Securities and Exchange Commission (SEC) to issue shares in a Regulation A offering to raise up to $25 million. The company will use the proceeds to expand its existing programs and acquire additional companies that it believes will thrive within its broad array of recycling and consumer engagement services. With the SEC qualification of the Regulation A offering, now any category of investor can invest in TerraCycle's U.S. operating company and participate in its future. Interested investors are invited to visit www.OwnTerraCycle.com to view detailed information about the offering and invest directly from that site.
About TerraCycle
TerraCycle is the world's leader in the collection and repurposing of complex waste streams, ranging from used cigarette butts to coffee capsules to ocean plastic to oral and beauty care products and packaging. The waste is collected through manufacturer-funded programs that are free to the public, as well as Zero Waste Boxes that are purchased by end users for recycling from homes, offices, factories and public spaces. The collected waste is converted into a variety of raw materials that are sold to manufacturers that produce new products. Each year, across 21 countries, TerraCycle collects and repurposes billions of pieces of waste, donating millions of dollars to schools and charities in the process. To learn more about TerraCycle or get involved in its recycling programs, please visit www.terracycle.com.
An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement, which only means that the company may make sales of the securities described by the offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You should read the offering circular before making any investment. The offering circular that is part of that offering statement can be found at www.sec.gov.